Synergy Consulting is Financial Advisor to the Consortium

Financial Close for Sharqiyah IWP in Oman

  • Synergy Consulting is the financial advisor to the Developer Consortium including JGC Corporation (Japan, 75%), United Infrastructure Development Company (BEC Group, Oman, 20%) and Doosan (Korea, 5%)
  • Oman Power and Water Procurement Company (OPWP) is the sole off-taker for the project
  • Project is funded by MUFG Bank, Sumitomo Mitsui Trust Bank (SMTB) and Shinsei Bank under NEXI cover for a door-to-door tenor of approx. 22 years
  • Nexi provided 100% political risk and 90% commercial risk cover
  • Total debt requirement for the project is around USD 115 MN. Each lender provided pro-rata debt of around USD 38 MN
  • Construction duration is around 3.5 years and operations period is 20 years
  • Project documents were signed with OPWP in Dec 2017 and pre-hedges were placed in January 2018
  • Financing documents were signed in July 2018 and Finance Close has been achieved in November 2018